Opinion/Risk management
The blind leading the blind
Editor's Letter
Who dares wins
EDITOR'S LETTER
Where the buck stops
Risk management units alone cannot avoid the damage from periodic bouts of irrational exuberance. That responsibility lies with the chief executive, argues David Rowe
Legal Spotlight
In the second of a two-part article, Laurence Pettit, partner at Baker & McKenzie, discusses recent credit rating agency reforms and asks whether they go far enough to restore confidence in what many people regard as a flawed system
Market Graphic - Credit spreads
Suki Mann, credit strategist at Societe Generale, argues that the confluence of economic conditions presents a unique opportunity to add risk - but be selective
Column - Amy Falls
With the markets grinding to a halt, now is the time for investors to show discipline and observe the three golden rules of liquidity management
Talking point - Structured finance CDO downgrades
In October one rating agency downgraded over $10 billion in US structured finance CDOs. Against a backdrop of further negative rating actions, Credit sought reaction from market participants
Back to basics
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Gavan Nolan, credit analyst at Markit Group in London, looks at credit indices
CCDS unchained?
In October, David Rowe argued that contingent credit default swaps offered only limited potential for active counterparty credit risk management. The convergence of several factors could change that
A devil in disguise?
Comment
Apocalypto Now
A misguided trust in models to predict likelihood of default lies at the heart of this instability, reckons Nigel Sillis
Talking point - The end of the acronym?
Will investor appetite for complex financial products be restored, or are we returning to a more traditional marketplace? Credit asked five market participants for their views
What's wrong with the risk-based approach?
The risk-based approach to regulation is under fire. In the UK, the Northern Rock debacle could result in a reworking of the supervisory system, which is being criticised as too hands-off. Defenders of the system point out that a failure such as Northern…
Cutting the Gordian knot
Basel II remains wedded to incremental extensions to the market risk rules. It is time for a bolder approach in this area, argues David Rowe
Talking point - The leveraged loan logjam
With the value of delayed leveraged loans nearing $400 billion, will sufficient liquidity return to the market to get these loans off the lending banks' balance sheets? Credit asks four experts